Friday, September 05, 2008 CHURCHILL MINING PLC
Churchill Mining Plc has defined 1.412 billion tonnes of JORC compliant resource, in various categories, at the East Kutai Coal Project (EKCP) in East Kalimantan, Indonesia. Measured, indicated and inferred resources are 118Mt, 322 Mt and 972 Mt, respectively. Coal quality to date is defined as medium calorific with low sulphur and ash content.The company has a minimum coal reserve target of 150Mt and is aiming to bring the EKCP into production by the end of 2009. Property: EAST KUTAI COAL PROJECT (Complete Text of Sep 5, 2008 News Release) PDF
Friday, September 05, 2008 TIGER RESOURCES LIMITED
Tiger Resources announce positive results from a Definitive Feasibility Study (DFS) into the Stage 1 development at the Kipoi Copper Project in the Democratic Republic of Congo. The study has been based solely on mining of the defined high grade oxide (+3.25%Cu ore) at the Kipoi Central deposit. The net present value (at 10% discount rate) US$58 million and an internal rate of return (after tax and royalties) of 51% Payback 1.5 years. The projected cash flow is US$138 million. These results are based on a throughput capacity of 900,000tpa at a head grade of 7% Cu over a three year period to produce 95,000t of copper metal. The capital expenditure is US$59 million and the cash cost per pound is US$1.20. Property: KIPOI (Complete Text of Sep 5, 2008 News Release) PDF
Friday, September 05, 2008 GBS GOLD INTERNATIONAL INC.
GBS Gold International Inc. (TSX:GBS) stock fell 15 per cent amid a continued review of its operations and financing requirements, reports the Canadian Press. Shares in the Toronto gold company traded at 11.5 cents, down two cents on a volume of 2.7 million on the TSX. The Toronto stock market faced a fourth day of steep losses Friday as investor pessimism about economic conditions deepened. GBS new management team said Thursday the review is focused on the company's short term mine schedule and cash resources following recent production disruptions in the Brocks Creek underground mine. "Discussions have also progressed with key shareholders, noteholders and lenders regarding future financing plans," GBS said. GBS Gold is a junior gold producer with operations in Australia. (September 5, 2008)
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Friday, September 05, 2008
